https://www.taxtmi.com/caselaws?id=69893 The Tribunal upheld the cancellation of assessment by the Commissioner as barred by limitation, citing the amended provision of section 153(2). The Tribunal dismissed the Revenue's appeal, relying on precedents such as Chettinad Corpn. (P.) Ltd. v. CIT. Regarding the addition made by the Assessing Officer on the merits, the Tribunal partially allowed the Assessee's appeal, accepting certain credits as genuine while sustaining additions for others. The Tribunal emphasized the burden of proof on the Assessee to establish the genuineness of credits received. en-us Fri, 28 Apr 2006 00:00:00 +0530 Fri, 14 Jun 2013 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69893 The Tribunal upheld the cancellation of assessment by the Commissioner as barred by limitation, citing the amended provision of section 153(2). The Tribunal dismissed the Revenue's appeal, relying on precedents such as Chettinad Corpn. (P.) Ltd. v. CIT. Regarding the addition made by the Assessing Officer on the merits, the Tribunal partially allowed the Assessee's appeal, accepting certain credits as genuine while sustaining additions for others. The Tribunal emphasized the burden of proof on the Assessee to establish the genuineness of credits received. Case-Laws Income Tax Fri, 28 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69893